Sept. 1 /PRNewswire/ -- Inc. magazine has named PreCash, a leading provider of prepaid debit cards and payment solutions for cash-based consumers, to its 2009 Inc. 5000 list of the fastest-growing private companies in America. In addition to issuing the Vision Premier(R) Prepaid Visa(R) Card with Direct Deposit (www.visionprepaid.com), PreCash also offers bill payment and prepaid wireless payment services. Other prominent brands on this year's list include consumer electronics maker Vizio, Internet giant GoDaddy, rental car service Zipcar, and beverage maker Honest Tea.
This is the third consecutive year PreCash has been on the list, and the fourth time it has made the list in five years. Additionally, this is the seventh time that a company under the leadership of John Chaney has been on the list. According to this year's rankings:
- PreCash grew a remarkable 277% from 2005 to 2008
- PreCash was the 49th fastest growing company within the financial services industry
- PreCash ranked 35th in the Houston-Sugar Land-Baytown, Tex. region
Says John Chaney, Chairman and CEO, PreCash, "Several years ago, we added prepaid debit to our suite of payments solutions and it's created additional growth in our business. Today, we are reaching out to an audience that includes more than a hundred million cash-based consumers who are looking for different and better ways of managing their money. We anticipate rapid growth as they continue turning to us for smarter products and services that make sense for their cash payment lifestyle."
"Savvy trend spotters and those who invest in private companies know that the Inc. 5000 is the best place to find out about young companies that are achieving success through a wide variety of unprecedented business models, as well as older private companies that are still expanding at an impressive rate," said Inc. 5000 project manager Jim Melloan. "That's why our list is so eagerly anticipated every year."
Continues Chaney, "The Inc. magazine award recognizes that PreCash, and the Vision Card, are on the right path. It's an honor to be named one of the nation's fastest growing companies."
More information on PreCash and the Vision Card can be found at www.precash.com or www.visionprepaid.com.
Methodology
The Inc. 5000 is ranked according to percentage revenue growth from 2005 through 2008. To qualify, companies must have been founded and generating revenue by the first week of 2005, and therefore able to show four full calendar years of sales. Additionally, they have to be U.S.-based, privately held, for profit, and independent -- not subsidiaries or divisions of other companies -- as of December 31, 2008. Revenue in 2005 must have been at least $200,000, and revenue in 2008 must have been at least $2 million. The top 10 percent of companies on the list comprise the Inc. 500, now in its 28th year.
About Inc. Magazine
Founded in 1979 and acquired in 2005 by Mansueto Ventures LLC, Inc. (www.inc.com) is the only major business magazine dedicated exclusively to owners and managers of growing private companies that delivers real solutions for today's innovative company builders. With a total paid circulation of 712,961, Inc. provides hands-on tools and market-tested strategies for managing people, finances, sales, marketing, and technology. Visit us online at Inc.com.
About PreCash, Inc.
PreCash provides convenient, real-time payment solutions that convert cash into electronic payments for consumers who do not use traditional payment methods such as credit cards or bank accounts. PreCash offers the Vision Premier(R) Prepaid Visa(R) card and other prepaid Visa and MasterCard(R) products, prepaid debit card program management services, real-time cash bill payments, prepaid wireless refills, payroll card products and more. The company places more than 30,000 prepaid debit cards in the market monthly and services more than 30,000 national retail, wireless dealers and independent retail locations nationwide. Founded in 1998, PreCash is headquartered in Houston, Texas, with additional offices in Portland, Oregon.
For further information: visit www.precash.com, orwww.visionprepaid.com.
